A recent article by the Wall Street Journal described credit unions as having a sleepy, backwater image. They were being highly complementary. That article praised credit unions for being better than a bank, for not being involved in sub-prime lending, for not paying huge bonuses to their officers, for not wasting money and for having better rates on loans and deposits. That article also said credit unions were stuck in the past and that has its benefits.
Those comments are very similar to our claim that we have “stuck to our knitting.” For decades our credit union has “stuck to our knitting.” We gather deposits from members and make small and moderate size loans to members. No “exotic” lending and no “toxic” investments.
“Sleepy . . . Backwater,” sounds good to us.
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